Capitalism is better than socialism?

The market is orders of magnitude superior to government when it comes to allocating resources albeit it is best moderated by elements of social democracy to correct market failures. The markets greatest strength is that human nature is based upon satisfying self interest while its biggest weakness is that it peruses efficiency at all costs and is somewhat inhumane (hence it works very well when moderated slightly).



Socialism is based around the notion that government can dictate supply and demand via a command economy. History has proven time and again that government is too slow or just plain wrong in its assessment of what needs allocating and where and which course of action is best. In China in the 60's Mao ordered x tonnes of steel to be produced and his people starved for it because to produce that amount, they sacrificed food production. The market on the other hand produces price signals so what when demand outweighs supply the price increases and there is an incentive for both new firms to enter the market and existing firms to produce more. This is why typically we have enough steel and food versus the China situation at the time.

Modern socialists decry the USSR and China as examples but in actuality most modern socialists have simply engaged in a marketing exercise and are essentially extreme social democrats rather than socialists.

Communist countries are those which go a step further and prohibit private ownership (state distribution keeps them fed and housed ect..), Cuba until 2006 was one such example. The problem here is that without property rights that are defined and enforced, there's no incentive to innovate. Why would i create a new and improved engine if far from being able to sell it, you (the state) will steal it from me and copy it.

Compare the success of Hong Kong with the USSR. I think it definitively proves that free market is more successful with minimal government intervention.
USSR failed because it was impossible to allocate resources efficiently and living standards plummeted.

Plummeted from what, and when?

Living standards plummeted, it was really always bad but went even worse as the arms race had drained the Soviet economy. Roughly during the 70s,80s, before the USSR collapsed

If things were bad in the 80s, they were outright dire after the collapse. Market liberalisation proved catastrophic for the majority of the Soviet Bloc. And what of life in those countries before the revolution? Living standards may have declined in the last 10 years of the USSR's existence but you can't ignore how far they had come before that.

Pretty sure it failed because largely they went bankrupt.

Well there's a number of reasons USSR failed, one of which is that their planned economy simply didn't work. It is stupid and naive to suggest there's only one reason. 'US propoganda' isn't a real reason. Instead it was because Gorbachev allowed such reforms and gave the people freedom.

Why did he do that? It was because the US media? He got brainwashed,right? Russians got brainwashed. They failed.

Is the free market the way forward?


or


Is the security of communism something we need?

Reminder: This thread is to debate ideas and open them up, not to bash those who believe them so keep it clean.

It's the wrong question.

Capitalism is the order of the day and it has been for a long time.

The question is when will it turn to a socialist of communist society.

Throughout history people have always needed others to create wealth and gradually in the coming decades that won't be the case with automation.

This means at some point people will have to be paid by the state to simply exist a citizens income if you like that means enterprise will either have to be state owned and the profits redistributed or tax levels above 90%


Posted from TSR Mobile

It's the wrong question.

Capitalism is the order of the day and it has been for a long time.

The question is when will it turn to a socialist of communist society.

Throughout history people have always needed others to create wealth and gradually in the coming decades that won't be the case with automation.

This means at some point people will have to be paid by the state to simply exist a citizens income if you like that means enterprise will either have to be state owned and the profits redistributed or tax levels above 90%


Posted from TSR Mobile

Once Karl Marx already had predicted fall of capitalism.
Are you going to write "Capital-2"?

No, it wasnt because of the US media. He realised change was necessary. You lack knowledge of the issue, search up 'Gorbachev's new thinking' which will give you more information